SummitTX Capital L.P. Has $968,000 Stock Holdings in Groupon, Inc. $GRPN

SummitTX Capital L.P. lifted its position in Groupon, Inc. (NASDAQ:GRPN) by 432.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 81,366 shares of the coupon company’s stock after purchasing an additional 66,088 shares during the quarter. SummitTX Capital L.P. owned 0.21% of Groupon worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GRPN. Caitong International Asset Management Co. Ltd bought a new position in Groupon during the 3rd quarter valued at about $32,000. Johnson Financial Group Inc. bought a new stake in Groupon during the fourth quarter worth about $35,000. Quarry LP grew its stake in Groupon by 48.1% during the third quarter. Quarry LP now owns 1,938 shares of the coupon company’s stock worth $45,000 after buying an additional 629 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Groupon during the second quarter worth approximately $69,000. Finally, National Bank of Canada FI raised its stake in shares of Groupon by 172,400.0% in the third quarter. National Bank of Canada FI now owns 3,450 shares of the coupon company’s stock valued at $81,000 after acquiring an additional 3,448 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on GRPN shares. Wall Street Zen downgraded Groupon from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Northland Securities set a $26.00 price target on Groupon in a report on Wednesday, May 27th. Citigroup reiterated an “outperform” rating on shares of Groupon in a research report on Tuesday, June 9th. The Goldman Sachs Group restated a “sell” rating and set a $13.00 target price (up from $10.00) on shares of Groupon in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Groupon in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Groupon currently has an average rating of “Hold” and an average target price of $19.50.

Groupon Trading Up 2.5%

Shares of NASDAQ GRPN opened at $27.89 on Friday. The firm has a market capitalization of $1.06 billion, a PE ratio of -10.69 and a beta of 0.23. Groupon, Inc. has a 1 year low of $9.17 and a 1 year high of $43.08. The firm’s 50-day moving average is $22.14 and its 200-day moving average is $16.66.

Groupon (NASDAQ:GRPN) last issued its quarterly earnings results on Thursday, May 7th. The coupon company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.30). The firm had revenue of $117.20 million for the quarter, compared to the consensus estimate of $117.65 million. As a group, equities research analysts anticipate that Groupon, Inc. will post -0.17 earnings per share for the current fiscal year.

Groupon Profile

Groupon, Inc operates an online marketplace that connects subscribers with local merchants offering discounted goods, services and experiences. Through its website and mobile applications, Groupon provides time-limited deals across categories such as restaurants, travel, beauty and wellness, home services, and consumer products. Merchants partner with Groupon to attract new customers and drive foot traffic, leveraging the platform’s targeted marketing tools and large subscriber base to promote special offers and vouchers.

Founded in Chicago in 2008 by Andrew Mason, Eric Lefkofsky and Brad Keywell, Groupon pioneered the daily-deals model, quickly growing its user community and merchant network.